Tokenized deposits, generally often called deposit tokens, are blockchain representations of fiat foreign money financial institution deposits. They’re issued by banks, backed by fiat deposits at these banks, and might run on both personal or public blockchains (though, since these are closely regulated entities, they’ll need full management of entry). In some instances, akin to with JPMorgan’s JPM Coin, they’re used to settle transactions between JPMorgan purchasers. In others, akin to SocGen’s EURCV, they are often transferred to purchasers who do not need accounts on the issuer financial institution, however solely after being whitelisted.
